vested pension

vested pension
n.
A pension to which an employee is unconditionally entitled because he or she has completed the required period of employment, whether or not he or she is working for that particular employer at the time of retirement.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

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  • vested — Fixed; accrued; settled; absolute; complete. Having the character or given the rights of absolute ownership; not contingent; not subject to be defeated by a condition precedent. Rights are vested when right to enjoyment, present or prospective,… …   Black's law dictionary

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  • Pension Benefit Guaranty Corporation — ( PBGC) A U.S. Government agency that was created to insure guaranteed pension benefits. PBGC has statutory authority to claim up to 30% of the net assets of a firm that sponsors a pension plan when an underfunded plan is terminated. Such a PBGC… …   Financial and business terms

  • Vested interest — Vest ed interest 1. a special personal interest, usually financial, in an existing system, law, or institution, which hinders a person from making objective decisions regarding that system, law, or institution. A vested interest may be one which… …   The Collaborative International Dictionary of English

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  • vested — vest|ed [ˈvestıd] adj 1.) vested interest a strong reason for wanting something to happen because you will gain from it ▪ Since he owns the strip of land, Cook has a vested interest in the project being approved. 2.) vested interests the groups… …   Dictionary of contemporary English

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